BREAKING NEWS

UN fails to agree landmark arms-trade treaty

By REUTERS

JULY 28, 2012 03:38

UNITED NATIONS - Delegations from around the world failed on Friday to agree a landmark UN arms-trade treaty to regulate the more than $60 billion industry, opting for further talks and a possible UN General Assembly vote by the end of the year, diplomats said.

More than 170 countries have spent the past month in New York negotiating a treaty, which needed to be adopted by consensus, so any one country effectively could have vetoed a deal. Instead, no decision was taken on a draft treaty.

But this leaves the door open for further talks and a draft arms-trade treaty could be brought to the 193-nation UN General Assembly and adopted with a two-thirds majority vote. Diplomats said there could be a vote by the end of the year.

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